On the morning of June 20, the People's Bank of China and HKMA jointly held the launch ceremony of the fast payment system interconnection between the mainland and Hong Kong. The cross-border transfer will go live on June 22, 2025. The launch of the cross-border transfer will help improve the efficiency and service level of cross-border transfer between the two places, facilitate economic and trade activities and personnel exchanges between the two places, and consolidate and enhance Hong Kong's status as an international financial center.